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Wednesday, September 10, 2008

The Letter of Credit guy...


At the September 4, 2008 "emergency meeting" at the Dept. of Transportation, Dan Gilligan, Director of Economic Development in the Town of New Hartford, had quite a lot to say.

In particular, Dan tried to convince Mr. Wiatr of Concerned Citizens and the other attendees that the developer, Larry Adler, was taking on quite a bit of the risk for the New Hartford Business Park. According to Dan Gilligan, Larry Adler has provided the town with a Letter of Credit, i.e. Mr. Adler has agreed in writing to be a guarantor of the bond.

Listen to the excerpt from the meeting...Dan Gilligan states that "the developer makes whole any payments...if there is a shortfall, the developer...he is the Letter of Credit guy who makes up the difference". The first speaker is Mr. Wiatr and then Dan Gilligan gives his reply.

Mr. Gilligan sounds convincing doesn't he? Considering that Mr. Larry Adler, the Letter of Credit guy, was at the meeting and said nothing should convince even Concerned Citizens that the Letter of Credit has been signed, sealed and delivered. Right?

Concerned Citizens wasn't convinced...we sent a FOIL to the town clerk asking for a copy of the Letter of Credit. The Town Clerk replied:
The Highway Superintendent, Town Planner, Planning Board Secretary and Bookkeeper have responded that they do not have the referenced Letter of Credit. You refer to Town Board minutes referencing that the Letter of Credit will be revised and accepted by Bond Counsel, so perhaps this hasn't been done yet. Your request is denied because, as of today, the Letter of Credit does not exist as a Town record.

Gail Wolanin Young
Maybe the Director of Economic Development still has the letter. How 'bout it Mr. Gilligan? Do you have that Letter of Credit or was it returned...

Why would Dan Gilligan think there was a Letter of Credit, more importantly why would Town Supervisor Earle Reed and Deputy Supervisor Dave Reynolds, who were both in attendance at the meeting, not correct Mr. Gilligan? Don't they want the public to know the truth or are they not even sure of the truth at this point? How can anyone believe anything they say when it is so easy to verify that their baloney is false and yet they still keep blowing smoke?

Still not completely convinced, Concerned Citizens asked for a certification as to the validity of the information we received in answer to our FOIL for the Letter of Credit. FOI Law allows for a certification just to be sure that what you get is what you think you got.

Sure enough, Town Supervisor Reed was willing to certify that there is no Letter of Credit...at least not at this point.

So let's see where we stand at this point. There are no signed PILOT allocation agreements...only the actual PILOT agreement signed by The Hartford, Ryan Companies and Oneida County Industrial Development. There is a $2.9 million bond anticipation note that has already been approved by the town board and over $1 million of that has already been bid out...we don't know, who do you think is on the hook for that bond at this point?

And Mr. Gilligan has the audacity to tell Mr. Wiatr that what Mr. Wiatr is saying is not all true...give us a line of credit!

Wait...it gets better...Stay tuned!

p.s. If you haven't already listened to the entire audiotape of the "emergency meeting", please click here!

3 comments:

Greens and Beans said...

More smoke in mirrors. You have done an excellent job in smoking out the master smokers.

What is Dan Gilligan’s definition of the Officer Joseph D. Corr Memorial Highway /State Route 840 as being “a road to nowhere?” State Route 840 leads to Middle Settlement Road, the former Oneida County Airport, New York I90 Thruway interchange in Westmoreland, the Whitestown Business Park, Tech Industries, S.R. Sloan Roof Trusses, Daimler Bus Industries and the Griffiss Business Park in Rome. Is this the definition of a road to nowhere that Mr. Gilligan speaks of? The State of New York just solicited over $2.5 Million in contract bids to construct a “First Responder Training Center” at the former Oneida County Airport in Whitestown. (http://www.ogs.state.ny.us/aboutogs/pressReleases/2008/DNCConstOppt20080828.htm)

The Halsey/Stone Road path to the Thruway exit in Westmoreland is now one of the busiest connector roads in all of Oneida County. These country roads were never designed to handle the heavy truck traffic that 840 imposed upon them. They are rapidly deteriorating under the constant high speed truck traffic. Was this peripheral damage done to these rural connector roads accounted for in the original 840 Environmental Impact Statement? How could a road to nowhere be so busy? How could thousands of vehicles every week be in such a rush to travel a road to nowhere?

Mr. Gilligan needs to be introduced to the concept of having a regional approach to economic development is. Perhaps he is just a little out of his element with his attempt to grapple with the subject of economic development.

Anonymous said...

Rumor has it that Supt. Gilligan is vacating his apartment in Chestnut Hills, sold his house in Sauquoit, New York and is moving?

In my opinion, he cannot get out of town - fast enough!

Anonymous said...

Look, they built this to raise the property value along the opened corridor and alleviate the LAST development spree they cashed in on. They could The Town (or more like the few benefactors therin) couldn't care if the road wnt off a cliff as long as the property went up.

So to them, it represents the end of the plan, hence the "road to nowhere" slip.